National Startup Day: Fadnavis inks MoU with SIDBI to create 100 cr fund

Maharashtra Chief Minister said that more over 300 MSME and startups, who have successfully created their space in the defence manufacturing sector, were created by Maharashtra government

Maharashtra Chief Minister Devendra Fadnavis on Thursday inked a Memorandum of Understanding (MoU) with the SIDBI (Small Industries Development Bank of India) to establish a Rs 100 crore fund.

"We have signed an MOU with SIDBI. Earlier, funds which were managed at Mumbai. Now, a Rs 30 crore fund will be available at every divisional centre," he said.

He was speaking at the National Startup Day program under the Department of Skill, Employment, Entrepreneurship & Innovation organised by Maharashtra State Innovation Society in Mumbai.

The event was themed 'Empowering Innovation, Elevating Maharashtra'. The event saw participation from 1,000 start-ups in technology, agriculture, service industries, pharmaceuticals, and tourism from across the nation.

He further said that more than 300 Micro, Small, and Medium Enterprises (MSME) and startups, who have successfully created their space in the defence manufacturing sector, were created by the Maharashtra government.

"In Maharashtra, we were the first amongst all other states to have our startup policy. We have also created a fund of funds, especially for the defence sectors. I am happy to tell you - that there are more than 300 MSMEs and startups who have successfully created their space in the defence manufacturing sector which are funded by the fund of funds created by the govt of Maharashtra...," CM Fadnavis said while addressing the event.

Fadnavis also emphasised the potential of small cities to become major hubs for innovation, stating, "This start-up revolution has to go to tier 2 and tier 3 cities, and we have seen that in many of the start-ups, people come from these cities and they have been very successful."

Meanwhile, speaking on the incident of attack on Bollywood actor Saif Ali Khan, Devendra Fadnavis stated that the law and order of Mumbai cannot be judged based on a few incidents and asserted that the city is the safest place.

"Police have given you all the details regarding this. What kind of attack is this? What is actually behind this, and what was the intention behind the attack? is all before you," the Maharashtra CM told mediapersons.

"Mumbai is the safest place, and there is no doubt about it. Just based on one or two incidents, it won't be right to say that Mumbai is unsafe. At the same time, it is also correct that if any such kind of incident happens, we should take it seriously and act accordingly and keep Mumbai safe," Fadnavis added.